SeaWorld Entertainment attendance, revenue up nearly 5% in second quarter compared to last year

SeaWorld Entertainment attendance, revenue up nearly 5% in second quarter compared to last year

Posted Monday, August 6, 2018 8:47 AM | Contributed by Jeff

From the press release:

Second Quarter 2018 Highlights

Total revenue increased by $18.2 million, or 4.9%, to $391.9 million from the second quarter of 2017.

Attendance increased by 0.3 million, or 4.8%, to 6.4 million guests from the second quarter of 2017.

Net income was $22.7 million, compared to a net loss of $175.9 million in the second quarter of 2017. Net income for the second quarter of 2018 includes approximately $8.7 million of certain pre-tax expenses as discussed further below. Net loss in the second quarter of 2017 includes approximately $280.4 million of certain pre-tax expenses, including a non-cash goodwill impairment charge, as discussed further below.

Adjusted EBITDA[1] was $117.6 million, an improvement of $13.4 million, or 12.9%, over the second quarter of 2017. Adjusted EBITDA does not reflect certain add-back adjustments due to limitations in the Company's credit agreement (see accompanying tables at end of release).

First Half 2018 Highlights

Total revenue increased by $49.0 million, or 8.7%, to $609.1 million from the first half of 2017.
Attendance increased by 0.7 million, or 8.0%, to 9.6 million guests from the first half of 2017.

Net loss was $40.1 million, compared to a net loss of $237.0 million in the second quarter of 2017. Net loss for the first half of 2018 includes approximately $30.2 million of certain pre-tax expenses as discussed further below. Net loss in the first half of 2017 includes approximately $288.4 million of certain pre-tax expenses, including a non-cash goodwill impairment charge, as discussed further below.

Adjusted EBITDA was $117.5 million, an improvement of $43.6 million, or 59.1%, over the first half of 2017. Adjusted EBITDA does not reflect certain add-back adjustments due to limitations in the Company's credit agreement (see accompanying tables at end of release).